Despite high entry prices, the appreciation and social status these properties offer are unmatched.San Francisco Bay Area: The tech boom has driven luxury property prices in the San Francisco Bay Area.

Do you enjoy hosting out-of-town guests in your home?

If you're really worried about the stability of the economy and the world, buy Gold lol - its universal

AND with STRs you have no risk of evictions (which can get to be real expensive depending on the area)  and most damages that guests do are covered by insurance (either through the rental platform it was booked through or sometimes the property management firm has added insurance too).As someone that build a large long term rental portfolio here in Illinois (I still have 40+ houses here) and somebody now building a portfolio in tennessee, I would definitely recommend looking at new construction in some of these str areas. 

And I always check the actual price the guest pays- because I haven't yet build direct booking (it's on my list) and the final cost (on VRBO and Airbnb) usually makes me re-think things with a larger perspective.

An idea we have is, I am burnt out from W2 life, and wife makes great money (+$300k) , and I could take the year to repair/renovate, manage, rent, repeat the units in the MF qualifying for REPS status (50%, 750hrs, material participation, etc). 

Assuming you spend more than 750 hours managing your properties, you would have Real estate prof. status.   

But you should consult with your tax advisor on that piece.You do not need to be a realtor to qualify for real estate professional status (REPS). 

I think they would be fine gifts to leave for guests.

Educate your guests.